Passbook Savings Account
- Your interest rate and annual percentage yield may change. At our discretion, we may change the interest rate on your account on the first day of every quarter.
- Withdrawals made by checks, ACH or similar order payable to third parties are prohibited.
- This is a limited transaction account. Telephone transfer requests and requests made through the internet banking system are limited to six (6) per statement cycle. If there is excessive abuse of the limited transactions, Meade County Bank has the right to refuse the transfer, or to close the account. Excessive may be defined as more than three abuses in twelve months.
- Interest begins to accrue on the business day you deposit non-cash items (for example, checks).
- The interest rate on your account will be paid through the last day of the quarter.
- Interest will be compounded quarterly and credited to your account on the last business day of each quarter. If you close your account before interest is credited, you will not receive the accrued interest.
- We use the average daily balance method to calculate interest on your account. This method applies a periodic rate to the average daily balance in the account for the period. The average daily balance is cacluated by adding the principal in the account for each day of the period and dividing that figure by the number of days in the period.
- No minimum balance required.
- $15 minimum to open.
- One free withdrawal per month. Each subsequent withdrawal is $2.00 each withdrawal.
- Quarterly statements.
- Free On-line Banking.
- Free Telephone Banking.
- Youth Savings Accounts are available to persons under the age of 18 or held for persons under the age of 18 by an adult. Proof of date of birth required. Withdrawal fee is waived with Youth Savings Accounts. Minimum to open $5.
- See Other Services and Fee Schedule.
Last updated on Feb 20, 2015